Lok Satta demands seizure of black money Secreted in Swiss banks

The Lok Satta Party demanded that the Government of India unearth and seize nearly 70 lakh crores of rupees stashed away in Swiss banks by Indian politicians and others. The huge money would come in handy to take up infrastructure and other projects that generate employment and reverse the downturn in the Indian economy.

The State Council of the Lok Satta Party, which met here today with party President Dr. Jayaprakash Narayan in the chair, recalled that the Swiss Government as early as in 2006 had told the Government of India that it was prepared to give details of Indian's deposits in Swiss banks if it made a request. The new disclosure norms came into force following the abuse of the system by terrorist elements. Strangely, both the Government and the Opposition parties have not bothered to pursue the Swiss offer for obvious reasons.